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Wanxiang wants to restart Fisker Karma production as quickly as possible

It appears that Wanxiang America's $149.2-million acquisition bid was about more than just owning the assets of Fisker Automotive. The Chinese auto parts maker is apparently serious about getting the Karma plug-in hybrid luxury vehicle back on the production line. "We will want to get the Karma back online as quickly as possible." "We will want to get the Karma back online as quickly as possible," Pin Ni, president of Wanxiang America, told The Boston Globe. More details will likely be released by Wanxiang now that US Bankruptcy Judge Kevin Gross has officially approved the purchase. Gross was satisfied that the purchase price includes a 20-percent stake in Fisker for creditors valued at $15 million – something that was not addressed by the original bids from Wanxiang and Hong Kong-based Hybrid Tech Holdings. Wanxiang also owns the maker of the Karma's lithium battery pack, A123 Systems. Creditors were delighted to see Wanxiang's bid, according to attorney William Baldiga, whose law firm represented creditors. "The value is six times what [Fisker] said it was worth when it filed for bankruptcy," Baldiga said, describing the negotiations as "two and a half days of yelling, screaming, bidding." In documents that Wanxiang filed with the federal court in January, Wanxiang mentioned a three-phase plan: building a hatchback version of the Fisker Atlantic (pictured above); restarting production of the Karma at Valmet in Finland, the plant where all the Karmas have so far been built; and then moving production to VL Automotive's manufacturing facility in Michigan. That means Bob Lutz, ex-General Motors vice chairman, could come back into the picture. In the first part of 2013, Lutz and Wanxiang tried to purchase Fisker. Lutz has as ownership stake in VL Automotive and wants to put small-block Corvette V8 engines into Karma bodies, calling the resulting vehicle the Destino. Wanxiang has said VL is the "soul of Fisker," so now that the company has the body, the revival can't be far behind. Featured Gallery Fisker Atlantic: New York 2012 News Source: The Boston Globe Green Plants/Manufacturing Fisker Electric PHEV a123 systems wanxiang karma

Lamborghini Huracan Sterrato and GMC Acadia driven | Autoblog Podcast #837

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Electric, John Beltz Snyder. They're both jazzed after driving the off-road-ish and totally sublime Lamborghini Huracan Sterrato. John recently drove the new GMC Acadia, Greg spent some time in the Toyota Camry, and they also discuss Autoblog's long-term Subaru WRX. In the news, the Porsche 918 Cayman and Boxster are reportedly ending production, while it's officially the end of the road for the Nissan GT-R and Volvo S60. Fisker has officially filed for bankruptcy. Cadillac has shown off a couple cool Blackwing special editions in honor of Le Mans. Finally, we reach in the mailbag and help a listener pick a sporty convertible in this week's Spend My Money segment. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #837 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving: 2024 Lamborghini Huracan Sterrato 2024 GMC Acadia 2025 Toyota Camry Long-term 2023 Subaru WRX Porsche 718 Cayman and Boxster allegedly end production in October 2025 2024 Nissan GT-R the final year for the U.S. market 2025 Volvo S60 the last model year for the sedan in the U.S. Fisker files for Chapter 11 bankruptcy 2025 Cadillac CT5-V Blackwing 'Le Monstre' and CT4-V Blackwing Petit Pataud limited editions celebrate Le Mans Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Podcasts Cadillac Fisker GMC Lamborghini Nissan Porsche Subaru Toyota Volvo Coupe Crossover SUV Electric Hybrid Luxury Off-Road Vehicles Performance Supercars Sedan

Former Fisker CEO has some advice for Tesla Motors

Former Fisker Automotive CEO and ex-Chevrolet Volt vehicle-line director Tony Posawatz has some words of caution for Tesla Motors. The long-time automaker executive questions the California automaker's long-term viability – and gives some praise – in a talk with Benzinga, which you can listen to below. While the all-wheel-drive D that Tesla unveiled earlier this month in Southern California wowed a packed crowd, Posawatz (starting at around minute 4:45 in the interview) says Tesla would've been better off taking the resources it expended toward that Model S upgrade and directed them towards speeding up the development of a more affordable plug-in. Perhaps a number of investors agreed, since the company's stock fell the day after the D was announced. Posawatz says Tesla has been over-reliant on the sale of ZEV credits. Posawatz also says that Tesla has been over-reliant on the sale of zero-emissions vehicle credits in California for its earnings and questions whether the automaker will ever work at a large enough scale to sufficiently drive down costs and make consistent profits. Tesla CEO Elon Musk would take issue with this characterization. Posawatz first made his mark in the plug-in vehicle world when he was the vehicle-line director at General Motors for the Volt extended-range plug-in from 2006 to 2012. Later that year, he joined extended-range plug-in maker Fisker Automotive as its CEO, though quit that job during the summer of 2013 as the company was descending into insolvency. He joined the Electrification Coalition this past March. News Source: Benzinga Green Chevrolet Fisker Tesla Electric PHEV Tony Posawatz